2015 (9) TMI 1736

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....RDER Per LALITKUMAR: The Revenue has filed this appeal challenging the order dated 13.2.2015 passed by the ld. CIT(A)-7, Mumbai and it relates to the assessment year 2010-11. 2. The effective grounds of appeal urged by the Revenue read as under: "1. Whether on the facts and circumstances of the case and in law, the ld. CIT(A) was right in holding that the assessee performs a char....

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.... claim" 3. We heard the parties and perused the records. The assessee is a trust, formed with the objective of encouraging physical education by training and coaching in various sports disciplines. The trust was registered u/s 12A of the Act by the Director of Income Tax (Exemption), Mumbai. It is also registered with Charity Commissioner, Mumbai. The AO, by following the assessment order passe....

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....ar 2003-04 while adjudicating the appeals filed by the assessee for the assessment years 2007-08 to 2009-10. Accordingly, the ld. CIT(A) held that the assessee is a Charitable Institution and its income has to be computed u/s 11 to 13 of the Act. The ld. CIT(A) also held that the assessee is entitled to carry forward and claim set off of the deficit (Excess application of income made) arising in t....